BTC/USD has recovered from the recent low, still under pressure. Bears may have an upper hand in the short-run. BTC/USD hovers at $8,000 amid growing bearish pressure, A sustainable move below this psychological barrier may lead to a sharp sell-off. At the time of writing, BTC/USD is changing hands at $8,022, down nearly 5% on a day-to-day basis. Bitcoin confluence levels Looking technically, there are a lot of barriers clustered above the current price. It means that the recovery may be limited at this stage. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin. Resistance levels $8,500 – SMA50 (Simple Moving Average) and SMA5 daily, 61.8% Fibo retracement monthly $8,700 – 38.2% Fibo retracement weekly, SMA10 daily $9,000 – Pivot Point 1-week Resistance 1 Support levels $7,900 – Pivot Point 1-week Support 2. $7,500 – Pivot Point 1-month Support 1, Pivot Point 1-day Resistance 3 $7,300 – The lowest level of the previous week. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next US: Housing Starts in October rose 3.8% vs. 0.6% expected FX Street 3 years BTC/USD has recovered from the recent low, still under pressure. Bears may have an upper hand in the short-run. BTC/USD hovers at $8,000 amid growing bearish pressure, A sustainable move below this psychological barrier may lead to a sharp sell-off. At the time of writing, BTC/USD is changing hands at $8,022, down nearly 5% on a day-to-day basis. Bitcoin confluence levels Looking technically, there are a lot of barriers clustered above the current price. It means that the recovery may be limited at this stage. Let's have a closer look at the technical levels that may serve as resistance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
